Derby County manager Steve McClaren comforts Richard Keogh after losing the Championship Play Off final against Queens Park Rangers at Wembley (Image: BEN STANSALL/AFP/Getty Images)

“I certainly think QPR have taken it seriously enough and I think Leicester and Bournemouth – whatever your view is on the settlements reached – it is money they would much rather have done something else with than pay it to the EFL,” said Harvey.

“There is a seriousness. The big challenge we have got in the next six months is to communicate really clearly what can and cannot take place by clubs that breach these rules.

“The EFL has not lost a club to administration in over five years now. Coventry were the last one.

“There is no doubt in the Championship, in particular, a lot of the clubs survive purely on the basis of owner funding. The vast majority are all making a loss.